security
Trump-promoted brand promotes GOLD before token collapse
A brand associated with former US President Donald Trump promoted a token called GOLD, but the promotion was followed by the deletion of related social media posts. Meanwhile, wallets linked to the team sold a large volume of tokens, and the token's price plummeted approximately 98%.
AS1 NewsSource: cointelegraph.com
US
TRUMPA crypto project associated with a Trump-promoted brand recently promoted a token named GOLD. Following the promotion, related posts on social media platform X (formerly Twitter) were deleted, indicating a possible withdrawal or attempt to mitigate fallout. Concurrently, wallets linked to the project's team sold approximately 224.5 million tokens, which contributed to a dramatic decline in the token's value, with the price dropping by about 98%. The event highlights the volatility and risks associated with promotional tactics in the crypto space, especially when linked to high-profile figures. The specifics of the token's utility or backing remain unclear, and the rapid price decline suggests a potential exit scam or market manipulation, although no official statements have been issued.
The event involves a promotional campaign followed by a significant sell-off and price collapse, raising concerns about market manipulation and security risks.